a minute agoFear of the crisis and Donald Trump, Germany and Italy want gold back from the US
Periskopi(a year ago)
(a year ago)According to a recent Financial Times report, Germany and Italy own the second and third largest gold reserves in the world, respectively, after the United States, with 3,352 and 2,452 tonnes of gold, according to World Gold Council data. However, a considerable portion of this treasure is neither found nor [...]
This practice, dating back to the Cold War, was linked to belief in American financial stability and fear of Soviet conquest. Currently, about 37% of Germany's gold and 43% of Italy's gold is still in the US. But the troubled geopolitical situation, the wars near Europe's borders, tensions at Estrecho de Ormuz, and President Donald Trump's unpredictable policies have sparked concern.
The possibility of Trump affecting the independence of the Federal Reserve --” stated Michael Jäger, president of TAE. He stressed that the recommendation is for the gold to return to Europe to ensure full control of central banks, writes A2 CNN.
In this context, the mysterious fate of gold seized during World War II has also begun to be discussed. Declassified documents reveal that 154 tonnes of Nazi gold passed through Switzerland via Canfrac in Spain and Portugal, while parts of German gold were transferred to the US for reconstruction after the Marshall Plan.
Benito Mussolini's gold also remains a mystery. Known as the “er of Dongo-s”, this treasure containing lingota, jewelry and currency was captured by Italian partisans in 1945, but most of it disappeared under unclear circumstances, prompting numerous theories on its use or theft.
However, for Germany and Italy, the focus today is on securing national reserves within borders, as a guarantee of a more stable economic future. /Periscope/
